Overview
- Coinbase announced on October 6–7 that it has finished folding Deribit into a new Coinbase Global Exchange and migrated Coinbase International Exchange accounts and positions to the Deribit infrastructure.
- Eligible U.S. institutional clients can now onboard through Coinbase Prime and Coinbase Financial Markets to trade Deribit options and perpetual futures, with trading access expected to begin in the coming weeks.
- Coinbase plans to relaunch a rebuilt Coinbase Pro by the end of 2026 as a single venue for spot, futures, perpetuals, options and equities with faster order routing and tools for high‑volume traders.
- New features being rolled out in stages include spot margin with up to 10x leverage on select major assets, unified portfolios that share collateral across products, and USDC‑based clearing via Coinbase Clearing LLC for fully collateralized contracts.
- The deal rests on CFTC staff guidance from May and Deribit's deep markets—reported at over $30 billion in BTC options open interest and more than $1 trillion in annual volume—which could broaden institutional participation but keeps U.S. retail access for later in 2026.